Subsea7 announced on April 7 that it has signed a strategic collaboration agreement with PETRONAS Suriname E&P B.V., alongside Subsea Integration Alliance (SIA), for offshore field development work in Suriname.
The agreement establishes a long-term framework for collaboration on multiple field development projects offshore Suriname.
Subsea7 said the collaboration will focus on early engagement and integrated execution to simplify procurement, reduce development costs, and improve delivery timelines. It stated that optimizing project schedules and reducing execution risk will support stronger project economics and help unlock opportunities across PETRONAS Suriname’s portfolio.
Subsea7 highlights decade long SIA Alliance as core delivery model for Guyana and Suriname | OilNOW
Under the agreement, SIA will deliver pre-front-end engineering and design, front-end engineering and design, and engineering, procurement, construction, installation and commissioning services. The scope includes subsea umbilicals, risers and flowlines from Subsea7, and subsea production systems from SLB OneSubsea.
Senior Vice President for Subsea7, Craig Broussard, said, “We are proud to be working with PETRONAS Suriname through this strategic agreement to establish strong, sustainable foundations in Suriname that will support growth in this emerging frontier basin.”
He added, “The agreement builds on our track record of collaborating with our clients to drive value creation through the delivery of optimised development solutions.”
Saipem and Subsea7 announce merger to form global offshore powerhouse | OilNOW
Chief Executive Officer of Subsea Integration Alliance, Olivier Blaringhem, said, “This is an exciting and important step for the development of the significant opportunities of PETRONAS Suriname in Suriname’s frontier basins.”
“The combined deepwater expertise and collaborative, agile approach of Subsea7 and SLB OneSubsea, will maximize value as the developments secure vital energy resources in the region,” he added.
SIA is a partnership between Subsea7 and SLB OneSubsea.
